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  • Profile photo of not_so_luckynot_so_lucky
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    @not_so_lucky
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    April 6, 2013 - 1:19 am

    Thanks everyone!!!

    Profile photo of not_so_luckynot_so_lucky
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    April 6, 2013 - 1:18 am

    Thank you Tom

    Profile photo of not_so_luckynot_so_lucky
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    April 1, 2013 - 1:43 am

    Thank you so much for that!!!

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    March 29, 2013 - 4:40 am

    If anyone has any feedback on the benefits of using expensive over cheaper conveyancers it would be greatly appreciated.

    Profile photo of not_so_luckynot_so_lucky
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    March 29, 2013 - 4:34 am

    Thank you Terry

    Unfortunately, there is no other choice but to transfer the property, for various reasons.

    Are you able to tell me more about the transfer being voided, or where I can read more about this, and if it will apply to us?

    Profile photo of not_so_luckynot_so_lucky
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    March 24, 2013 - 6:24 am

    Thank you Terry. 

    Yes , to related party.

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    March 24, 2013 - 6:22 am

    What an eye opener. Thank you! Had no idea about any of that!!!

    by the way, the property is being gifted by parent to the child.

    Profile photo of not_so_luckynot_so_lucky
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    March 24, 2013 - 4:07 am

    Who did you end up going with lopetha?

    Profile photo of not_so_luckynot_so_lucky
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    March 24, 2013 - 3:59 am

    Are you planning on doing a lot of the work yourself? Or paying cash (god forbid) to some tradies? 

    Profile photo of not_so_luckynot_so_lucky
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    February 4, 2013 - 9:39 am
    Terryw wrote:
    not_so_lucky wrote:
    Thank you all!!!

    I've contacted a few accountants and they all recommend I see a different person … or do they?

    These are the people they suggested I see, are they al the same???

    property surveyor

    independent valuer

    quantity surveyer

    property valuer

    One of them suggested this site: http://www.bmtqs.com.au/ConstructionCostCalculator.aspx

    Does it look promising?

    Doesn't sound promising to me. Ask these accountants under what authority they are saying this. See s 121-20 ITAA 1997 http://www.austlii.edu.au/au/legis/cth/consol_act/itaa1997240/s121.20.html

    Thank you Terry for that link.

    Does the below mean that a valuation could be sufficient?

    (5)  If the necessary records of an act, transaction, event or circumstance do not already exist, you must reconstruct them or have someone else reconstruct them.

    Example:    Your capital gain or capital loss from a CGT event may depend on the market value of property at a particular time. To record that market value properly, you may need to get a valuation done.

    Profile photo of not_so_luckynot_so_lucky
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    February 4, 2013 - 8:27 am

    Thank you all!!!

    I've contacted a few accountants and they all recommend I see a different person … or do they?

    These are the people they suggested I see, are they al the same???

    property surveyor

    independent valuer

    quantity surveyer

    property valuer

    One of them suggested this site: http://www.bmtqs.com.au/ConstructionCostCalculator.aspx

    Does it look promising?

    Profile photo of not_so_luckynot_so_lucky
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    January 26, 2013 - 4:08 am

    Thanks all.

    Profile photo of not_so_luckynot_so_lucky
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    January 26, 2013 - 4:07 am

    Thank you all!

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    January 26, 2013 - 4:06 am

    Actually, I think that's what the plan is (not 100% sure). The block will however be paid in cash…

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    January 25, 2013 - 10:17 am

    Tell me about it :(

    Although the Stamp Duty topic is not about me. Phew!

    With the investment property, if the person has owned it for 10 years, but has only lived in it for 5 years, the other 5 years it just sat there, wasn't being rented out or anything. When the person sells the house, will they have to pay 100% of the CGT or 50% because for 50% of the time it was their primary place of residency?

    Profile photo of not_so_luckynot_so_lucky
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    January 25, 2013 - 10:14 am

    Like share accommodation? Unfortunately, that is not an option :(

    So there is no way for the person who doesn't want to rent to avoid having to pay tax for their share?

    Profile photo of not_so_luckynot_so_lucky
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    January 25, 2013 - 10:13 am

    Thanks for that.

    Because of the generous FHOG for brand new houses, they are both planning to immediately sell the units. They are both currently renting. Will they both have to pay CGT for the sale of the house? And the person who sold the block to the builder will also have to pay CGT on the sale of the block as well. Is this correct?

    Profile photo of not_so_luckynot_so_lucky
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    June 12, 2012 - 1:30 am

    I managed to fidd out some more details …

    "In limited circumstances the Commissioner may approve an extension to the commencement and completion date where the delay was outside the control of the parties and could not have been foreseen at the time of entering into the contract."

    "A letter from the relevant third party (e.g.: builder, developer, local council or private surveyor etc.) that clearly states the nature of the delays and the actual or anticipated dates foundations were/or are to be laid."

    I was an owner builder, and the reason why the construction took longer than 18 months was due to delays with material supplies. As well as a couple tradies leaving half way through an unfinished job. Are these reasons acceptable? Do I need the supplier and tradies to write up letters, or is it just my statement (as an owner builder) that is required?

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    August 1, 2011 - 5:22 am

    Thank you Scott

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    August 1, 2011 - 5:16 am
    ben_young_investor1988 wrote:

    Hi,

    I work for a real estate office at Unley and we use Jo Lambert for all our interior decorating. She is fantastic at what she does and all our homes come up looking sensational.

    Let me know if you would like further details.

    Hi Ben

    Would you mind sharing Jo's contact details?

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